Prof. Rodrigue Tremblay
GlobalResearch, 5 February 2013
One crisis averted, three to come! Indeed, that’s what can be said after the U.S. House of Representatives passed legislation on January 23, 2013, to suspend the government’s statutory borrowing limit for three months.
In fact, the cycle of artificially created crises will go on and on in Washington D.C. Now, the next crises are scheduled for March 1s, for March 27th and for May 19th. Stay tuned. On March 1st, automatic sequester cuts agreed by Congress in 2012 will take effect, causing an immediate cut of $69 billion in public discretionary spending. Then, on March 27, the U.S. government’s ability to fund itself (the “continuing resolution”) will run out. And, of course, come May 19, the melodrama of raising the debt ceiling will be back again in force.
Ever since Republicans took control of the 435-member U.S. House of Representatives in 2010, a fiscal drama with the White House and the U.S. Senate has been replayed time and again. One of the political gimmick is called the “raising of the country’s debt limit.”
Why so many artificial crises in the current American political system? Extreme political polarization seems to be the answer.
Phi Beta Iota: Iceland is the only country that got it right, and their bond ratings are now stronger than those of the ever duplicitous US Government. The Chicago Plan has been around since the Great Depression. Integrity. Such an elegant word.